The Jesuit New World Order

Sunday, 25 March 2012

Vatican Calls for “Central World Bank”

The Vatican has called for a “global public authority” and a world central bank to rule over financial affairs in the wake of the engineered economic collapse.

A document released by the Vatican’s Justice and Peace department “should be music to the ears of the ‘Occupy Wall Street’ demonstrators and similar movements around the world who have protested against the economic downturn,” according to CNBC.

Condemning the “idolatry of the market,” the document states that the “economic and financial crisis which the world is going through calls everyone, individuals and peoples, to examine in depth the principles and the cultural and moral values at the basis of social coexistence.”

The planned implosion of the global economy “has revealed behaviors like selfishness, collective greed and hoarding of goods on a great scale.”

The 18-page document, entitled “Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority,” declares global economics needs an “ethic of solidarity” among rich and poor nations.

“If no solutions are found to the various forms of injustice, the negative effects that will follow on the social, political and economic level will be destined to create a climate of growing hostility and even violence, and ultimately undermine the very foundations of democratic institutions, even the ones considered most solid,” it said.

In response, the Vatican is calling for “a supranational authority” with worldwide scope and “universal jurisdiction” to guide economic policies and decisions. The authority will be run by the United Nations, according to the document.

It will take time to replace economic policies and in the process destroy national sovereignty, according to the Vatican.

“Of course, this transformation will be made at the cost of a gradual, balanced transfer of a part of each nation’s powers to a world authority and to regional authorities, but this is necessary at a time when the dynamism of human society and the economy and the progress of technology are transcending borders, which are in fact already very eroded in a globalizes world.”Vatican Calls for 'Central World Bank' to Be Set UpPublished: Monday, 24 Oct 2011 | 6:54 AM ET Text Size By: Reuters

The Vatican called on Monday for the establishment of a "global public authority" and a "central world bank" to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.

A major document from the Vatican's Justice and Peace department should be music to the ears of the "Occupy Wall Street" demonstrators and similar movements around the world who have protested against the economic downturn.

The 18-page document, "Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority," was at times very specific, calling, for example, for taxation measures on financial transactions.

"The economic and financial crisis which the world is going through calls everyone, individuals and peoples, to examine in depth the principles and the cultural and moral values at the basis of social coexistence," it said.

It condemned what it called "the idolatry of the market" as well as a "neo-liberal thinking" that it said looked exclusively at technical solutions to economic problems.

"In fact, the crisis has revealed behaviors like selfishness, collective greed and hoarding of goods on a great scale," it said, adding that world economics needed an "ethic of solidarity" among rich and poor nations.

"If no solutions are found to the various forms of injustice, the negative effects that will follow on the social, political and economic level will be destined to create a climate of growing hostility and even violence, and ultimately undermine the very foundations of democratic institutions, even the ones considered most solid," it said.

It called for the establishment of "a supranational authority" with worldwide scope and "universal jurisdiction" to guide economic policies and decisions.

Such an authority should start with the United Nations as its reference point but later become independent and be endowed with the power to see to it that developed countries were not allowed to wield "excessive power over the weaker countries."

Effective Structures

In a section explaining why the Vatican felt the reform of the global economy was necessary, the document said:

"In economic and financial matters, the most significant difficulties come from the lack of an effective set of structures that can guarantee, in addition to a system of governance, a system of government for the economy and international finance."

It said the International Monetary Fund (IMF) no longer had the power or ability to stabilize world finance by regulating overall money supply and it was no longer able to watch "over the amount of credit risk taken on by the system."

The world needed a "minimum shared body of rules to manage the global financial market" and "some form of global monetary management."

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"In fact, one can see an emerging requirement for a body that will carry out the functions of a kind of 'central world bank' that regulates the flow and system of monetary exchanges similar to the national central banks," it said.

The document, which was being presented at a news conference later on Monday, acknowledged that such change would take years to put into place and was bound to encounter resistance.

"Of course, this transformation will be made at the cost of a gradual, balanced transfer of a part of each nation's powers to a world authority and to regional authorities, but this is necessary at a time when the dynamism of human society and the economy and the progress of technology are transcending borders, which are in fact already very eroded in a globalizes world."Vatican Calls for Oversight of the World’s FinancesBy ELISABETTA POVOLEDOPublished: October 24, 2011 LinkedinSign In to E-MailPrintReprintsShare

VATICAN CITY — The Vatican called on Monday for an overhaul of the world’s financial systems, and again proposed establishment of a supranational authority to oversee the global economy, calling it necessary to bring more democratic and ethical principles to a marketplace run amok.

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In a report issued by the Pontifical Council for Justice and Peace, the Vatican argued that “politics — which is responsible for the common good” must be given primacy over the economy and finance, and that existing institutions like the International Monetary Fund had not been responding adequately to global economic problems.

The document grows out of the Roman Catholic Church’s concerns about economic instability and widening inequality of income and wealth around the world, issues that transcend the power of national governments to address on their own.

“The time has come to conceive of institutions with universal competence, now that vital goods shared by the entire human family are at stake, goods which the individual states cannot promote and protect by themselves,” Cardinal Peter Kodwo Appiah Turkson, the president of the pontifical council, said as he presented the report on Monday. “That is what pushed us.”

The language in the document, which the Vatican refers to as a note, is distinctively strong. “We should not be afraid to propose new ideas, even if they might destabilize pre-existing balances of power that prevail over the weakest,” the document states.

The message prompted comparisons with the rallying cries of protest movements that have been challenging the financial world order, like the indignados in Madrid and the Occupy Wall Street protesters in New York City. Still, Vatican officials said the document was not a manifesto for disaffected dissidents.

“The document proposes ideas that seem to be in line with those proposed by the indignados, but really we are in line with the Magisterium of the church,” said Bishop Mario Toso, secretary to the pontifical council, referring to the church’s teaching authority. “It is a coincidence that we share some views. But after all, these are proposals that are based on reasonableness.”

The document is a reminder that the Catholic Church, without getting involved in policymaking, still seeks to shape its principles. “To function correctly the economy needs ethics; and not just of any kind, but one that is people-centered,” the document states, paraphrasing an encyclical that Pope Benedict XVI issued in 2009 calling for greater social responsibility in the economy.

In the United States, the report was embraced by politically liberal Catholics who are concerned about the widening gap between rich and poor. Vincent J. Miller, a professor of Catholic theology and culture at the University of Dayton, wrote, “It’s clear the Vatican stands with the Occupy Wall Street protesters and others struggling to return ethics and good governance to a financial sector grown out of control after 30 years of deregulation.”

John Gehring of Faith in Public Life, a liberal advocacy group in Washington, said, “In the next Republican presidential debate, someone should ask Newt Gingrich and Rick Santorum, both proudly Catholic, whether they support the Vatican’s call for more robust financial reform.”

Politically conservative Catholics, meanwhile, hastened to assure their camp that the document does not carry the full force of church teaching, since it was produced by a Vatican office, not by the pope himself. And some dismissed the report as nothing new, or simply misinformed.

Writing in the National Review, Samuel Gregg of the Acton Institute, which promotes free-market economic policies, said of the document: “It reflects rather conventional contemporary economic thinking. Unfortunately, given the uselessness of much present-day economics, that’s not likely to make it especially helpful.”

On October 24th, the Pope officially gave his support to Occupy Wall Street and, like Gorbachev, proposed a solution that goes EXACTLY at the opposite of the protester’s demands: an international organization regulating economy. In other words, a Central World Bank. In other other words, a New World Order.

Thank you Vatican for your input. Jesus was indeed a big advocate of international banking. He also preached about a world financial system that would only benefit the elite. Yup, that’s what he did alright (sorry for the extreme sarcasm).

Here’s an article about the Vatican pushing for the same international system as the Rockefellers and others.Vatican Calls for Oversight of the World’s Finances

The Vatican called on Monday for an overhaul of the world’s financial systems, and again proposed establishment of a supranational authority to oversee the global economy, calling it necessary to bring more democratic and ethical principles to a marketplace run amok.

In a report issued by the Pontifical Council for Justice and Peace, the Vatican argued that “politics — which is responsible for the common good” must be given primacy over the economy and finance, and that existing institutions like the International Monetary Fund had not been responding adequately to global economic problems.

The document grows out of the Roman Catholic Church’s concerns about economic instability and widening inequality of income and wealth around the world, issues that transcend the power of national governments to address on their own.

“The time has come to conceive of institutions with universal competence, now that vital goods shared by the entire human family are at stake, goods which the individual states cannot promote and protect by themselves,” Cardinal Peter Kodwo Appiah Turkson, the president of the pontifical council, said as he presented the report on Monday. “That is what pushed us.”

The language in the document, which the Vatican refers to as a note, is distinctively strong. “We should not be afraid to propose new ideas, even if they might destabilize pre-existing balances of power that prevail over the weakest,” the document states.

The message prompted comparisons with the rallying cries of protest movements that have been challenging the financial world order, like the indignados in Madrid and the Occupy Wall Street protesters in New York City. Still, Vatican officials said the document was not a manifesto for disaffected dissidents.

“The document proposes ideas that seem to be in line with those proposed by the indignados, but really we are in line with the Magisterium of the church,” said Bishop Mario Toso, secretary to the pontifical council, referring to the church’s teaching authority. “It is a coincidence that we share some views. But after all, these are proposals that are based on reasonableness.”

The document is a reminder that the Catholic Church, without getting involved in policymaking, still seeks to shape its principles. “To function correctly the economy needs ethics; and not just of any kind, but one that is people-centered,” the document states, paraphrasing an encyclical that Pope Benedict XVI issued in 2009 calling for greater social responsibility in the economy.

In the United States, the report was embraced by politically liberal Catholics who are concerned about the widening gap between rich and poor. Vincent J. Miller, a professor of Catholic theology and culture at the University of Dayton, wrote, “It’s clear the Vatican stands with the Occupy Wall Street protesters and others struggling to return ethics and good governance to a financial sector grown out of control after 30 years of deregulation.”

John Gehring of Faith in Public Life, a liberal advocacy group in Washington, said, “In the next Republican presidential debate, someone should ask Newt Gingrich and Rick Santorum, both proudly Catholic, whether they support the Vatican’s call for more robust financial reform.”

Politically conservative Catholics, meanwhile, hastened to assure their camp that the document does not carry the full force of church teaching, since it was produced by a Vatican office, not by the pope himself. And some dismissed the report as nothing new, or simply misinformed.

Writing in the National Review, Samuel Gregg of the Acton Institute, which promotes free-market economic policies, said of the document: “It reflects rather conventional contemporary economic thinking. Unfortunately, given the uselessness of much present-day economics, that’s not likely to make it especially helpful.”

- New York Times, Vatican Calls for Oversight of the World’s FinancesVatican Council Calls for World Government, Central Bank | Print | Written by Michael Tennant Wednesday, 26 October 2011 08:59

A “global political authority” and a “central world bank”: These are the solutions that the Pontifical Council for Justice and Peace recommends for the worldwide financial crisis. “Towards Reforming the International Financial and Monetary Systems in the Context of Global Public Authority,” the document outlining the council’s recommendations, is, in the words of author and Roman Catholic Thomas E. Woods, Jr., “deeply confused,” at once recognizing that central bank-driven inflation and easy credit are at the root of the world’s financial woes and prescribing even bigger government and more highly centralized banking as the cure.

There is some debate over the extent to which the document presents the church’s position on the matter. The council’s president, Cardinal Peter Turkson, made it clear at the press conference that launched the paper that the statement was “not in any way the opinion of the pope,” but solely of those who composed it. The council’s secretary, Bishop Mario Toso, when questioned, said the document was reviewed only by the Secretariat of State and then released; the Pope had not read it. While press accounts have often referred to it as if it were a papal pronouncement, National Review’s George Weigel insists that such attribution is “rubbish, rubbish, rubbish.” “The document is a ‘Note’ from a rather small office in the Roman Curia,” Weigel maintains, adding that it “doesn’t speak for the Pope, it doesn’t speak for ‘the Vatican,’ and it doesn’t speak for the Catholic Church.”

Woods, responding to similar criticism from a reader of his blog, argued: “I’m supposed to distinguish between the Pontifical Council and the Pope, you say. Fair enough. But did those people appoint themselves? Is Rome consistently surprised by how liberal its appointees turn out to be? Fewer and fewer people believe this anymore.” Indeed, the council’s recommendations mirror those of Pope Benedict XVI, who in a 2009 encyclical called for “a true world political authority” to, among other things, “manage the global economy.”

As noted above, the council appears to have a good grasp of the underlying cause of the present financial distress:

In recent decades, it was the banks that extended credit, which generated money, which in turn sought a further expansion of credit. In this way, the economic system was driven towards an inflationary spiral that inevitably encountered a limit in the risk that credit institutions could accept. They faced the ultimate danger of bankruptcy, with negative consequences for the entire economic and financial system….

Since the 1990s, we have seen that money and credit instruments worldwide have grown more rapidly than revenue, even adjusting for current prices. From this came the formation of pockets of excessive liquidity and speculative bubbles which later turned into a series of solvency and confidence crises that have spread and followed one another over the years.

As Jeffrey Tucker put it, “Some people at the Vatican have gotten the message about the dangers of the fiat money system that generates unlimited amount[s] of credit, and even traced it all to the monetary reforms of 40 years ago.” Those “reforms” were the dissolution of the Bretton Woods system and the end of the dollar’s convertibility into gold under President Richard M. Nixon, turning the dollar into a purely fiat currency to be manipulated by the Federal Reserve. “Every problem we’ve had since — inflation, bubbles, credit addiction, bank racketeering — can be traced to this one act,” Tucker avers.

The council, however, does not seem to understand that governments and their central banks were behind the inflation and credit expansion. Instead, the document blames “an economic liberalism that spurns rules and controls,” which is to say laissez-faire capitalism, and recommends even bigger, more centralized government and banking to prevent a recurrence. “This,” Woods remarks, “is a delusion, albeit a common one.”

In the United States we have 115 agencies that regulate the financial sector, and the Securities and Exchange Commission never had a bigger budget or staff than under George W. Bush. There has been a threefold (inflation-adjusted) increase in funding for financial regulation since 1980…. There is no repealed regulation that would have prevented the crisis consuming the world right now.

The banking industry is by far the least laissez-faire sector of the U.S. economy; it is a cartel arrangement overseen by the Federal Reserve and shot through with monopoly privilege, bailout protection, and moral hazard.

Having misdiagnosed the problem as too little regulation, the council then draws the faulty conclusion that it “seems obvious” that “a world political authority” is needed to prevent future economic meltdowns. The council goes on to describe its utopian vision of this global government. It “cannot be imposed by force, coercion or violence.” It must be “impartial” in its decision-making. It “should put itself at the service of the various member countries.” It should step in “only when individual, social or financial actors are intrinsically deficient in capacity, or cannot manage by themselves to do what is required of them.”

In other words, the council expects humans, given the opportunity to rule the world, to adopt selfless behavior entirely at variance with that which they display when put in charge of much smaller fiefdoms. Government, by its very nature, employs force. It is never impartial but always bends to the will of interest groups. It seeks not to serve but to be served unquestioningly. And it always finds ways to blame “market failure” or other perceived private-sector deficiencies for its continual interventions.

The document also calls for “some form of global monetary management.” “In fact,” it says, “one can see an emerging requirement for a body that will carry out the functions of a kind of ‘central world bank’ that regulates the flow and system of monetary exchanges similar to the national central banks.”

“This is beyond naïve,” observes Tucker. “It seems to illustrate a near total absence of clear thinking. Centralization of money and credit caused this problem. Centralization of political authority caused this problem. Why would anyone imagine that more centralization is therefore the answer? This approach takes a terrible situation and makes it much worse.”

Needless to say, such a governing body as the council envisions would necessarily erode the sovereignty of existing nation-states. The council suggests using the United Nations as a “reference” for setting up this world authority and is positively giddy with the thought that “this transformation will be made at the cost of a gradual, balanced transfer of a part of each nation’s powers to a world Authority and to regional Authorities.” The dangers of such a system are obvious.

“In a world on its way to rapid globalization,” the council concludes, “the reference to a world Authority becomes the only horizon compatible with the new realities of our time and the needs of humankind.” It then goes on to caution readers of the lesson of the Tower of Babel (Genesis 11:1-9), which the council claims is “how the ‘diversity’ of peoples can turn into a vehicle for selfishness and an instrument of division.”

A fairer reading of that passage would, however, indicate that the lesson is not that “diversity” is dangerous but rather that centralized power is. God, after all, caused the diversity of language specifically to frustrate a unified humanity’s attempts to set itself up as a god. Had the council drawn the correct conclusion from Scripture, it would have thought twice before recommending that humans attempt once more to usurp the Lord’s role as ruler of the Earth.